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U.S. closes two more banks, 87 so far in 2011

WASHINGTON (Reuters) – U.S. regulators closed two more banks on Friday — one in Utah and another in Nebraska — bringing the total number this year to 87. The Federal Deposit Insurance Corporation (FDIC) said the SunFirst Bank of Saint George, Utah, has been closed. It said the three branches…

U.S. to require bankruptcy plans from ‘too big to fail’ firms

WASHINGTON — US regulators approved Tuesday a rule requiring 37 large US and foreign financial institutions to submit plans to allow for their orderly dismantlement in case of bankruptcy. In the wake of the 2008-2009 financial crisis, the Federal Deposit Insurance Corporation rule, which regulates banks, has adopted the rule…

FDIC launches 50 criminal investigations into bankers

The Federal Deposit Insurance Corporation has launched criminal investigations into approximately 50 banking executives involved in the financial crisis, AP reports. Deputy Inspector General Fred Gibson said Wednesday the inspector general’s office at the Federal Deposit Insurance Corp. has been probing the role of the executives in bank failures around…

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